The hand-wringing taking place over some of President Trump’s Cabinet picks would be laughable were it not for what the opposition is missing: Team Trump’s flirtation with something much more dangerous in making crypto part of the nation’s so-called strategic reserve.
The US government stockpiling crypto would send an awful message to the world and make investors think twice about investing in the dollar
As such we want the dollar to remain as the world’s reserve currency for the simple reason that we will be selling more debt even under Trump. It’s aimed at cutting the budget deficit to 3% of GDP , revving up economic growth to 3% and increasing oil production by 3 million barrels per day. A bitcoin reserve literally conveys credibility to a currency that is competing with the dollar for reserve currency status — international transactions are made in dollars which means people need to hold them in some form.
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